The South Korean government has opted for an international arbitration over its longstanding dispute with Lone Star Funds after it turned down the US fund’s final $870-million out-of-court settlement proposal.
Lone Star Funds, which is in litigation against the South Korean government at the International Centre for Settlement of Investment Disputes, suggested US$870 million as a concession.
The groups said they are concerned about the ICSID’s long-standing failure to promulgate clear rules for addressing cases where corruption has been alleged.
CCSI hosted an online discussion with George Kahale on issues surrounding valuation in ISDS disputes, which has become the most dangerous aspect of ISDS.
Pakistan is actively engaged in negotiations with parties involved in a dispute over the $5.97 billion award against the country in the Reko Diq litigation.
A lawsuit by Vattenfall is also still pending before the International Centre for Settlement of Investment Disputes (ICSID), concerning several billion euros for the permanent closure of Krümmel and Brunsbüttel.
The ICSID has turned down a lawsuit filed by Spanish companies Cementos La Union and Aridos Jativa against the Egyptian State, demanding a compensation of more than €236 million.